Andrew Thomas is a reporter for NTD News primarily covering business, the economy, and technology. 

Andrew Thomas

NTD Plus

Shows

News you can trust from the U.S. and around the world. Critical information and insight. We cover the stories that others don’t. NTD News Today airs Monday–Friday at 11 a.m. ET.

NTD News Today

Britain's Silk Ribbon Weaving Industry Is Fading Away

Supreme Court Rules Florida Can't Sue California Over Business Tax Policy

NTD Newsroom comprises teams of reporters, editors, and producers assigned to cover breaking news and other stories.


NTD Newsroom

Japan Says Chinese Aircraft Carrier Held Drills Near Philippines

The Associated Press is an American not-for-profit news agency headquartered in New York City. 

The Associated Press

News

World News

Asia &amp; Pacific

Mining Explosives Blast in Burma Kills at Least 43

Florida Sues OpenAI Over AI Harms to Users

Juliette Fairley is a freelance reporter for NTD and The Epoch Times and a graduate of Columbia University’s Graduate School of Journalism. Born in Chateauroux, France, and raised outside of Lackland Air Force Base in Texas, Juliette is a well-adjusted military brat. She has written for many publications across the country. Send Juliette story ideas at JulietteFairley@gmail.com

Juliette Fairley

US News

State News

Colorado

Former Colorado County Clerk Tina Peters Released From Prison

US Intercepts Iranian Missiles Aimed at US Troops

United Flight Returns After Bluetooth Named 'Bomb'

FDA Approves Oral Pill to Prevent COVID-19

Reuters is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages.

Reuters

China News

US Takes Step to Halt Nvidia AI Chip Shipments to Chinese Firms Outside China

Stefania Cox is an NTD News anchor and national correspondent based at the network's global headquarters in New York City. Stefania anchors "NTD Newsroom," and co-anchors "NTD News Today" weekdays at 10:00 am ET.

Stefania Cox

NTD News Today Full Broadcast (June 2)

NTD News Today Full Broadcast (June 1)

NTD News Today Full Broadcast (May 29)

NTD News Today Full Broadcast (May 28)

Kevin Hogan is an NTD News data reporter and national correspondent based at the network's global headquarters in New York City. Kevin covers breaking news, as well as U.S. and global current events. He conveys the news through data visualizations and investigates pressing issues.

Kevin Hogan

NTD News Today Full Broadcast (May 27)

NTD News Today Full Broadcast (May 26)

NTD News Today Full Broadcast (May 25)

NTD News Today Full Broadcast (May 22)

NTD News Today Full Broadcast (May 21)

NTD News Today Full Broadcast (May 20)

California

More Than 17,000 Under Evacuation Orders as Southern California Wildfire Threatens Homes

Joseph Lord is a congressional reporter for The Epoch Times.


Joseph Lord

Aldgra Fredly is a freelance writer covering U.S. and Asia Pacific news for The Epoch Times.

Aldgra Fredly

Former NYC Mayor Rudy Giuliani Hospitalized in Critical Condition: Spokesman

Rudy Blalock is a Southern California-based daily news reporter for NTD. Originally from Michigan, he moved to California in 2017 and the sunshine and ocean have kept him here since. In his free time, he may be found underwater scuba diving, on top of a mountain hiking or snowboarding, or at home meditating—which helps fuel his active lifestyle.

Rudy Blalock

40,000 Ordered to Evacuate as Chemical Tank Leaks, Threatens Explosion in California

Video of US Fighter Jet Shooting Down UFO Over Lake Huron Emerges in New Pentagon Files

Ryan Morgan is a reporter for The Epoch Times focusing on military and foreign affairs. He was previously a news writer for NTD. 


Ryan Morgan

Mari Otsu is NTD's White House correspondent based in Washington. 

Mari Otsu

Middle East

Iran

3 US Warships Fend Off Iranian Attacks, Trump Says Ceasefire Still Holds

US Government Sues Chick-fil-A Over Religious Rights

Sports News

Kyle Busch, Two-Time NASCAR Champion, Dies at 41

Health News

3 Dead in Suspected Hantavirus Outbreak on Cruise Ship in Atlantic Ocean: WHO

Haika Mrema

Medical Plane Crash in New Mexico Mountains Kills 4, Sparks Wildfire

Daniel Monaghan is a reporter for NTD News covering culture, social issues, and education. He holds a BA in Political Science and Government.

Daniel Monaghan

California Mayor Resigns, Will Plead Guilty to Acting as Chinese Agent

Kenneth Rapoza is a contributor to NTD. He was a staff reporter for the WSJ in Brazil and later spent 2011 to 2020 as the BRICs reporter for Forbes. He writes occasional editorials for Newsweek on the Trump trade agenda and is an analyst at the Coalition for a Prosperous America by day.

Kenneth Rapoza

Chinese clean energy companies would be excluded from tax benefits they enjoyed under the Inflation Reduction Act (IRA), should the One Big Beautiful Bill Act, currently considered by the U.S. Congress, become law.

The act, a budget reconciliation package aimed to implement President Donald Trump's policy agenda, was passed by the House of Representatives early Thursday by one vote. China solar importers are asking the Senate to change course in their version of the bill.

The IRA, signed into law by President Joe Biden in 2022, is often dubbed the “Green New Deal.” It provided tax write-offs to clean energy producers and manufacturers, primarily of EV batteries, battery storage, solar, and wind.

For China, the IRA was mostly a solar story.

China is the world’s No. 1 solar manufacturer. Its solar companies account for eight out of the top 10 globally, according to researchers at <a href="https://www.pvtime.org/2024-top-20-global-photovoltaic-module-manufacturers-revealed-by-pvbl/">Photovoltaic</a> Brand Lab.

Since the law, no other country has invested more in solar projects in the United States than China.

At least seven Chinese solar companies have announced more than a billion dollars in combined investments into new or existing solar projects in states across the country. Prior to the enactment of the IRA, only Chinese solar multinational Jinko Solar, one of the biggest solar companies in the world, had a factory in Jacksonville, Florida. But since 2022, Ohio, Texas, Alabama, New Mexico, and Arizona have been added to the mix.

It is unclear what will become of these Chinese solar investments. None of the companies has made any pronouncements at this time.

However, the Solar Energy Industries Association (SEIA), a trade group that counts Chinese solar companies as members, <a href="https://seia.org/news/solar-and-storage-industry-statement-on-house-passage-of-reconciliation-bill-that-would-dismantle-greatest-industrial-revival-in-u-s-history-provoke-dangerous-energy-shortage/">said </a>Thursday that the bill’s passing was “unworkable” for solar.

SEIA president Abigail Ross Hopper never mentioned China, but called changes to the IRA “willfully ignorant of the fact that deploying solar … is the only way the U.S. power grid can meet the demand of American consumers, businesses, and innovation.” Hopper later went on to say that without solar, of which China is a dominant force, the United States will see higher electricity bills and “communities nationwide will face blackouts.”

Still, amid record solar deployment over the last several years, U.S. electricity rates have gone from 12.65 cents per kilowatt hour for residential use in 2015 to 16.48 cents by 2024, <a href="https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_3">according</a> to the Energy Information Administration.
<h2>What Would Change for Chinese Solar?</h2>
Under the new bill, Chinese companies, the dominant force in U.S. solar under the IRA, would lose the tax credits that made it attractive for companies to invest in solar.

Congress had already exempted so-called “foreign entities of concern” from tax benefits in the CHIPS Act and the Bipartisan Infrastructure Bill. Foreign entities of concern are companies from China, Russia, North Korea, and Iran, or companies with close ties to those governments via corporate management, board members, and investment. However, with the exception of electric vehicle battery components from China, Congress did not apply the same rules to the IRA.

The House-passed bill would change all that for China.

By applying foreign entity restrictions to the “<a href="https://www.bakertilly.com/insights/the-section-45x-tax-credit">advanced manufacturing production</a>” credits known as 45X, and to the investment and production tax credits for construction and operation of solar power plants known as the 48E and 45Y tax credits, respectively, China no longer qualifies. 45X credits are for makers of clean energy products, including solar panels and their components.

If the Senate keeps the language in this bill intact, Chinese-made solar would no longer qualify for 45Y credits beginning in 2026. Chinese solar manufacturers like Jinko in Florida and LONGi Green Energy Technology in Ohio will no longer be able to write off manufacturing costs under the 45x rule, likely by 2027. The Senate could, in theory, change these time frames before sending the Act to the president's desk.

Once Trump signs the Act into law, China will no longer qualify for what has amounted to a “double subsidy”—tax breaks from the United States, plus subsidies and other benefits given to parent companies by Beijing and provincial governments back home.

Last year, political risk and business intelligence firm Horizon Advisory warned in a <a href="https://www.horizonadvisory.org/sunburn">report</a> that the U.S. clean energy sector faced big risks by allowing China to enjoy dual benefits from two different countries.

“America stands at the precipice of a once in a generation opportunity to seize energy independence and the corresponding boons for security and economic development that accompany a resurgence of U.S. production,” report authors wrote. “Those opportunities risk being wasted if a short term trade off is made to allow Chinese state-backed players to exploit U.S. industrial policy.”

Latest

Videos

Politics

04_Top Stories

Latest Clips

Management

Congress

Latest and breaking news, documentaries, movies, and lifestyle content on NTD+.
 
Empower your knowledge and elevate your spirit with NTD+, your go-to destination for truthful news, insightful documentaries, and captivating lifestyle content that enriches your life.

China's Solar Firms Face Potential Tax Credit Freeze Under House ‘Big Beautiful Bill’

American Consumer Sentiment Is 'Gloomy': Bankrate Analyst

Savannah Pointer is a politics reporter for The Epoch Times. She can be reached at savannah.pointer@epochtimes.us

Savannah Hulsey Pointer

Iris Tao is NTD's White House correspondent based in Washington. Prior to her work at the White House, Iris reported on U.S. politics and U.S.–China relations from NTD’s New York headquarters. She holds degrees in journalism and economics from Boston University.

Iris Tao

Breaking news and in-depth analysis from the United States and beyond. We bring you the latest updates, exclusive insights, and sharp discussions on the most pressing issues. NTD Newsroom airs Monday–Friday from 2 p.m. to 6 p.m. ET.

What to Know About Fatal Shooting of 2 Israeli Embassy Staffers in DC

Jack Phillips is a breaking news reporter with 15 years experience who started as a local New York City reporter. Having joined The Epoch Times' news team in 2009, Jack was born and raised near Modesto in California's Central Valley. 

Jack Phillips

Federal Judge Blocks Mass Layoffs at Department of Education

Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.

Tom Ozimek

CIA Reports Shooting Outside Its Headquarters in Virginia

Amazon's Lobbying Against Ban on Chinese Products 'Gives Away Their Exposure' in CCP: Analyst

China Can't Decide Whether We Are a Country, Taiwan Foreign Minister Says

John Rigolizzo is a writer from South Jersey. He previously wrote for the Daily Caller, Daily Wire, Campus Reform, and the America First Policy Institute.


John Rigolizzo

Colts Owner Jim Irsay Dies at 65

Lawrence Wilson covers politics for The Epoch Times.

Lawrence Wilson

Melina Wisecup is NTD's congressional correspondent based in Washington, covering Capitol Hill and campaign politics.